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CARY, N.C. — Cary Oil Co. signed an agreement to purchase all of the wholesale distribution rights of Ladson, S.C.-based Southern Gas and Fuels Inc. and Southern Tank Line LLC for an undisclosed price. The acquisition is expected to close in early December.
Cary Oil will begin servicing and supplying all of Southern's customer accounts upon the closing date, according to the terms of the agreement.
"We are delighted to welcome the customers of Southern Fuels to Cary Oil," stated Cary Oil President Don Stephenson. "Mike Kocak and his team at Southern have worked hard to build a strong portfolio and we look forward to continuing the excellent service those customers have come to expect."
Founded in 1959, Cary Oil distributes fuel to branded and unbranded customers in 18 states. Its customers range from single-site operators to large jobbers that have access to 11 branded suppliers.